Is Cadillac, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cadillac has remained a Seller's Market.
Key Takeaway
Cadillac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cadillac, MI
How much do homes in Cadillac, MI cost?
Median Sold Price
$210,000
$134/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Cadillac have sold for 32.9% more than they did a year ago.
Summary: The median home sold price in Cadillac was $210,000 in April 2024, up 32.9% from last year, and the median price per square foot was $134.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $47.5K | $125K | +163.1% |
| 2 Bedrooms | $147.5K | $165.7K | +12.4% |
| 3 Bedrooms | $148.5K | $209.5K | +41.1% |
| 4 Bedrooms | $168.9K | $262.5K | +55.4% |
| 5+ Bedrooms | $280K | $299.7K | +7.1% |
Summary: Cadillac housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 163.1%, 2 bedroom homes increased by 12.4%, 3 bedroom homes increased by 41.1%, 4 bedroom homes increased by 55.4%, and 5+ bedroom homes increased by 7.1%.
Housing Supply in Cadillac, MI
How many homes are available in Cadillac, MI?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 72 | +4.3% |
Summary: The Cadillac real estate market had 72 homes for sale in April 2024, a 4.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 28 | 29 | +3.6% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Cadillac housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cadillac, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.
Summary: A total of 21 homes were sold or pending in Cadillac in April 2024, up by 40.0% month-over-month. Of the 21 sold homes, 52% were sold under asking, 10% were sold at asking, and 38% were sold over asking.
Days on Market for Cadillac, MI
How long does it take to sell a home in Cadillac, MI?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 65 Days | +127.7% |
Summary: Homes in Cadillac had an average of 65 days on market in Apr 2024, up by 127.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Cadillac has remained consistent over time.
Summary: During April 2024, 21 homes were sold in Cadillac; 19% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
Disclaimer: Information deemed reliable, but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor this broker shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program of MichRIC, LLC. Real estate listings held by brokerage firms other than this broker are marked with the BR logo and detailed information includes the name of the listing broker. Copyright 2024 Grand Rapids Association of REALTORS® / Copyright © MichRIC, LLC. / MLS Exchange Inc. All rights reserved.
Listing information is provided in part by the IDX Program of the MLS of the Greater Lansing Association of REALTORS®. IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS.